Residents of New Hampshire in the USA are celebrating with a ‘Tax Repeal Tea Party’.
As of yesterday, there is no longer any State tax payable on lottery winnings in New Hampshire.
Residents were required to pay an extra 10% on any lottery winnings above $600 in a law introduced back in 2009. But last week Governor John Lynch made law the bill that repeals the lottery tax.
It is important to note though that Federal Taxes do of course still apply in the USA. This was just an extra tax that New Hampshire was applying to lottery winners within the State.
Executive Director of the New Hampshire Lottery, Charlie McIntyre, said it was great news the tax had gone.
And to celebrate they have just launched a new $10 scratch off ticket, called “$250,000 Tax Free” – starting with a buy one get one free offer at the lottery commission offices. The lottery company will pay the Federal Taxes on the $250,000 prize.